Boothbay Readies First Launch

Mar 29 2012 | 11:18am ET

A former Platinum Management executive is just days away from launching his maiden hedge fund.

Ari Glass will unveil his hybrid multi-manager Boothbay Hybrid Fund on Sunday, HFMWeek reports. The fund will launch with $50 million in initial assets and a dozen allocations.

Glass' Boothbay Asset Management hopes to increase the number of allocations, both to their own traders and to outside managers, to 15 by the end of the year. All told, the fund will eventually have 30 managers as part of its multi-strategy platform. For outside managers, Boothbay, founded in October, will insist on separately-managed accounts.

Boothbay Hybrid's initial assets come primarily from a family office. The fund's capacity is unclear.

Glass was president of Platinum from 2007 through 2009 and is a former executive at Intrepid Capital Management.

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